PMI is not much help If homeowners have been dutifully paying mortgage insurance all these years, shouldn’t the mortgage industry be covered in case of disaster? Like now? Not so much, say industry professionals, who helped me sort out this strange conundrum. It’s strange because private mortgage insurance, or PMI, can be a large chunk …
Category Archives: Real Estate
WL occupancy suit’s fees turn to tenants
WL occupancy suit’s fees turn to tenants Three Purdue University students who were part of a costly lawsuit over West Lafayette’s occupancy ordinance must now foot the bill for more than $52,000 in fines and legal costs. Jill Schuler, Kelly Underwood and Melissa Wood were among five women who lived in a rental home — …
Suffering St. Lucie County called a ‘disaster’ area
Suffering St. Lucie County called a ‘disaster’ area With unoccupied homes and families in distress, a St. Lucie County leader wants to declare a state of emergency to release $17.5 million in reserve funds. The Baehrs — Derek, Kellyanne and their two young daughters — are five months behind on their mortgage payments. They sometimes …
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In Florida, Despair and Foreclosures – NYTimes.com
In Florida, Despair and Foreclosures Desperation has moved into this once-middle-class exurb of Fort Myers, where hammers used to pound. Its straight-ahead stare was hidden amid the chatter of 221 families waiting for free bread at Faith Lutheran Church on a recent Friday morning; and it appeared a block away a few days earlier, as …
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Foreclosures bringing bad debt
Foreclosures bringing bad debt Q:As you know, many associations are dealing with the impact of some residents’ inability to pay assessments. Many owners are facing foreclosure. As a result of the rules governing foreclosures, for the first time our association expects to incur some bad debt expenses this year. Do you have any advice on …
Condo King Corus Weighs Its Options
Condo King Corus Weighs Its Options The bank that funded a big part of the condominium boom is considering selling all or part of itself as rising defaults force it to seek capital. Corus Bankshares Inc., a symbol of the exuberance for glass-and-steel condo towers from Miami to Los Angeles, reported a $260.7 million quarterly …